It is important as Americans that we relearn Economic Liberty and apply these principles to our small business, jobs and in who we elect to represent us. Learn the basics of Economic Liberty in our series.

After ranking 2nd in 2000, the U.S. falls to 18th in this years report. As the authors explain:

[T]he United States has fallen precipitously from second in 2000 to eighth in 2005 and 19th in 2010 (unadjusted ranking of 18th). By 2009, the United States had fallen behind Switzerland, Canada, Australia, Chile, and Mauritius, countries that chose not to follow the path of massive growth in government financed by borrowing that is now the most prominent characteristic of US fiscal policy. By 2010, the United States had also fallen behind Finland and Denmark, two European welfare states. Moreover, it now trails Bahrain, the United Arab Emirates, Estonia, Taiwan, and Qatar, countries that are not usually perceived of as bastions of economic freedom. See Report here.